Recent Houthi advances along Yemen’s Red Sea coast, including the capture of Mokha and Perim Island near the Bab el-Mandeb Strait, have intensified cross-border missile and drone strikes into southern Saudi Arabia, wounding civilians and disrupting energy facilities in provinces such as Jizan and Najran. Saudi-led coalition airstrikes in Yemen and alerts in border areas reflect heightened defensive measures, while Riyadh has sought additional U.S. military support amid the broader regional conflict affecting oil routes. These developments, following renewed fighting since July, shape trader assessments of whether Houthi ground forces will cross into Saudi territory, with ongoing exchanges and diplomatic channels between the parties remaining key variables in the near term.